Pringle of Scotland Lost Money for the Fifth Year in a Row

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According to their 2010 financial data, Pringle of Scotland posted a loss of over $10 million. In a year that saw the label’s design director title change hands, from Claire Waight Keller to Alistair Carr, some impact on the bottom line was to be expected — but the figures represent the fifth year in a row that Pringle has been in the red. To counterbalance the losses, the label’s owners injected $16.5 million back into the brand, and a spokesperson says its directors “are not expecting to report operating profits in the short term, but are satisfied that the development of the brand and of the business are progressing with their long-term strategic objectives.” Presumably, these developments include Carr’s new “modernized [design] approach” and his burgeoning reinterpretation of the label’s archives for today’s consumer.